* This story kinda puts Gov. Rauner in a bit of a bind. If he dumps the investment, he can’t claim that his investments are outside of his control. If he doesn’t dump the investment, he gets criticized for profiting off of a colossal federal mess…
Gov. Bruce Rauner this year reported turning a profit from a health care group that services U.S. Immigration and Customs Enforcement detention centers, including facilities that hold immigrant families with children.
In his most recent statement of economic interests, the multi-millionaire Republican governor disclosed earnings from a private equity fund that owns Correct Care Solutions, a for-profit health care provider that has millions of dollars in government contracts with jails and prisons across the country, including immigrant detention centers.
The governor says he relinquished investment decisions to a third party and has no direct ties to Correct Care Solutions, a group whose work extends to places like Karnes County Residential Center in Texas, one of just four immigrant family detention centers in the country contracted for profit. […]
“He should not be in any way profiting off of this,” said Donald Cohen, executive director of In the Public Interest, a national watchdog group that monitors privatization and advocates for responsible government contracting. “It’s morally reprehensible.”
“Does JB really want to go down this road?,” asked one Rauner operative today. Pritzker, of course, has even more investments than Rauner does.
By the way, In the Public Interest says it’s a project of Partnership for Working Families. Illinois affiliates of that group are under the banner of Grassroots Collaborative and include the Chicago Teachers Union and SEIU Healthcare Illinois and Indiana.
*** UPDATE *** Uh-oh…
- TopHatMonocle - Monday, Jul 9, 18 @ 8:35 am:
Oh please like Rauner wouldn’t go down that road anyways. He’s literally following Pritzker around with a toilet, it’s hard to find a road lower than that.
- Sonny - Monday, Jul 9, 18 @ 8:37 am:
Rauner operative… is this someone from the shady social media info scrapers who helped Trump or BTIA Pt. 4. Do they want to go down that road? We are down that road, pally, and you work for someone profiting from Trump’s cruelty policies among other awful things so maybe take time to do your own moral accounting.
- 33rd Ward - Monday, Jul 9, 18 @ 8:39 am:
This kind of thing will happen a lot now that rich have put us so far in debt, and they also happen to own that same debt.
- Michael Westen - Monday, Jul 9, 18 @ 8:51 am:
“Does JB really want to go down this road?,” So that’s an offer to not go negative on JB’s investments if only JB doesn’t go negative on Rauner’s? Please. We’re going down this road whether this story ever appeared.
- State Sen. Clay Davis - Monday, Jul 9, 18 @ 8:51 am:
>>“Does JB really want to go down this road?,” asked one Rauner operative today. Pritzker, of course, has even more investments than Rauner does.
Rich guy vs. Rich guy oppo war is exactly the turf JB can fight and win on. It’s a Dem wave year, and Bruce is talking toilets.
- Anon221 - Monday, Jul 9, 18 @ 8:54 am:
Rauner chose to go down that road with those investments before he even ran for governor.
Now, unless JB has similar investments in the same types of companies, there is no comparison.
If JB does, then he should publically disinvest, as should Rauner. Rauner cannot keep claiming that he’s not in charge and just as much of a victim as the actual victims of these companies. That suit cannot be worn. It’s beyond threadbare.
- Arsenal - Monday, Jul 9, 18 @ 8:56 am:
LOL, yeah, ok, ‘cuz Rauner was gonna go easy on JB before this.
- wordslinger - Monday, Jul 9, 18 @ 8:57 am:
–“Does JB really want to go down this road?,” asked one Rauner operative today.–
Clearly, he does.
Like Rauner’s crew was going to hold their fire if they come across any hinky Pritzker investments.
- From the 'Dale to HP - Monday, Jul 9, 18 @ 9:01 am:
===“Does JB really want to go down this road?,” asked one Rauner operative today.===
On the one hand, ROTFLMAO. On the other hand, that does read a bit like a campaign that knows it’s a lost cause and doesn’t want to put in the work because it’s a lost cause.
- JS Mill - Monday, Jul 9, 18 @ 9:07 am:
=“Does JB really want to go down this road?,” asked one Rauner operative today. Pritzker, of course, has even more investments than Rauner does.=
Maybe the “operative” does not realize that Pritzker isn’t governor? Yet. And Pritzker has no need to put his investments into a blind trust yet? Something the governor said he did but but didn’t really ever do.
More Rauner lying, if I were Pritzker I would run down that rad.
- 360 Degree TurnAround - Monday, Jul 9, 18 @ 9:08 am:
The Rauner operative’s response seems like he didn’t know what else to say in response. Hard to defend a guy like Rauner.
In light of this new revelation I would start making a commercial with the cries of those children followed by Bruce Rauner’s face and the cash register bell. Chuh - ching chuh - ching chuh - ching.
- 360 Degree TurnAround - Monday, Jul 9, 18 @ 9:09 am:
Is this the business deal he made on the porch at governor’s mansion?
- Put the fun in unfunded - Monday, Jul 9, 18 @ 10:07 am:
Good to know that this group and some commenters don’t think that the children should be receiving medical care. Regardless of what you think of the underlying policy, is refusing to provide medical care the best way to protest?
- wordslinger - Monday, Jul 9, 18 @ 10:13 am:
–Good to know that this group and some commenters don’t think that the children should be receiving medical care.–
LOL, did you really think that was dazzlin’ spin when you hit “say it” button?
- wordslinger - Monday, Jul 9, 18 @ 10:36 am:
–Correct Care Solutions - the Rauner-linked health care company that services ICE facilities - also has contracts with the IL Dept. of Juvenile Justice worth $20M+–
This requires a deep-dive into the governor’s one-eye-open “blind trust.”
- Shark Sandwich - Monday, Jul 9, 18 @ 10:45 am:
–-Good to know that this group and some commenters don’t think that the children should be receiving medical care.–-
-LOL, did you really think that was dazzlin’ spin when you hit “say it” button?-
So dazzlin’, it makes two negative ads:
Blue markets-’Bruce Rauner profited off of ICE detainees!’
Red markets-’Bruce Rauner provided healthcare to illegal immigrant children!’
- Huh? - Monday, Jul 9, 18 @ 10:47 am:
1.4% invests in a company that has numerous complaints of poor care, similar to his nursing home ventures. So is anyone surprised about his handling of the Quincy veterans home?
Now we are surprised that this same company has state contracts. Wonder if the rfp required they divulge ownership conflicts of interest.
- Anon-I-Guess - Monday, Jul 9, 18 @ 10:49 am:
Does JB want to go down this road?
Man, Rauner camp does not seem to be able to grasp that elections are a binary choice. “He’s is just as bad as me in theory” isn’t going to fly when most of the state already think you are a failed Governor.
- Rabid - Monday, Jul 9, 18 @ 11:09 am:
Rauners blind trust income skyrockets living off the government dole
- Annonin' - Monday, Jul 9, 18 @ 11:12 am:
GovJunk does not control investments.
Wrong.
He parked the cash in a “blind trust” but we guess GovJunk “forgot” to tell trustee to get rid of investments involvin’ those do biz with or in IL.
It a little like usin’ his racin’ board chairs house for the tax break ad when the owner had been usin’ all possible means to cut taxes.
BTW the racin’ guy also was a top exec of an outfit accused of the largest accountin’ fraud in the history of the Northern District of Illinois. BTIA
- Archpundit - Monday, Jul 9, 18 @ 11:22 am:
–Good to know that this group and some commenters don’t think that the children should be receiving medical care.–
Really, you want to make the case for the quality of medical care at ICE facilities right now?
- Honeybear - Monday, Jul 9, 18 @ 11:30 am:
To the update
This is how a governor makes more
In office than before
Blind trust my tookas
This is also why he uses initials in his log book
I bet it was a no bid contract
Oh my God
It’s Christmas morning
What a gift
- Wading in... - Monday, Jul 9, 18 @ 11:31 am:
For a guy who doesn’t like government, he sure has done lots of business with government.
- Nacho - Monday, Jul 9, 18 @ 11:35 am:
==Good to know that this group and some commenters don’t think that the children should be receiving medical care. ==
This is almost as strained as “opposing family separation means you’re in favor of sex trafficking.”
- A Jack - Monday, Jul 9, 18 @ 11:36 am:
JB needs to include this into the long list of people that have been hurt with Rauner related businesses with Rauner claiming no responsibility. And add to that those who have been hurt during the budget crisis and the Quincy VA home. You have quite a pattern of Rauner involvement, yet no admission of responsibility.
- Generic Drone - Monday, Jul 9, 18 @ 11:45 am:
A Rauner campaign person knocked on my door yesterday and asked if I intended to vote for Rauner. I just laughed outloud while closing the door.
- Rabid - Monday, Jul 9, 18 @ 11:55 am:
This is not an insider corrupt bargain, the proceeds go the the Rauner family foundation
- 47th Ward - Monday, Jul 9, 18 @ 12:00 pm:
That “blind trust” isn’t really. Near-sighted maybe, but not blind. Strange that they always seem to be making money. You never hear about it when public grifters like Rauner or Trump use their government connections and actually lose money. I mean, that must happen from time to time, right?
Right?
- @misterjayem - Monday, Jul 9, 18 @ 12:05 pm:
IYC Warrenville is the IDJJ facility for girls.
Between FY17 and FY18, the number of girls admitted to IDJJ increased by 81%, despite an overall decline in IDJJ admissions during this period.
While Bruce was getting accolades for criminal justice reforms, his broken budgets gutted community services for these girls, making his blind investment a growth sector.
What a lucky guy.
– MrJM
- Chris Widger - Monday, Jul 9, 18 @ 12:23 pm:
==You never hear about it when public grifters like Rauner or Trump use their government connections and actually lose money. I mean, that must happen from time to time, right?==
Well, no. The politicians we elect generally agree to deals that shift the risk almost exclusively to taxpayers and not to private investors. Just look at any stadium deal. We get the government we put into place.
- Lester Holt’s Mustache - Monday, Jul 9, 18 @ 12:40 pm:
I distinctly remember honeybear bringing this type of situation up two weeks ago, and a bunch of you ridiculed her for it.
Going to offer an apology for that, or nah?
- Deadbeat Conservative - Monday, Jul 9, 18 @ 1:42 pm:
This probably won’t hurt Rauner, although it should. Like Trump, it’s simply taken for granted that he’s lying most of the time. The GOP has succeeded in creating such an extremely low-bar of ignorance and blatant lying by public officials that it’s just accepted now.
- Put the fun in unfunded - Monday, Jul 9, 18 @ 2:00 pm:
Ok, I’ll bite regarding the federal contract. Other than “I don’t agree with current federal policy,” what is the alleged wrongdoing? BR does not own the company; he has an interest in a VC firm that owns it (and in a blind trust, can’t control that).
- wordslinger - Monday, Jul 9, 18 @ 2:32 pm:
–…he has an interest in a VC firm that owns it (and in a blind trust, can’t control that).–
Rauner has shares in a private equity fund, not “an interest in a VC firm.” Those aren’t the same thing.
And Rauner doesn’t have a blind trust, but a power-of-attorney arrangement. He has full knowledge of where his money is invested at all times.
Other than that, your comment is informed and spot on.
- Lester Holt’s Mustache - Monday, Jul 9, 18 @ 2:49 pm:
==what is the alleged wrongdoing? ==
I look forward to the logical, reasoned and not at all hypocritical post from you the next time a democratic Gov is raking in cash from a company with state contracts.
- Arsenal - Monday, Jul 9, 18 @ 2:52 pm:
==Other than “I don’t agree with current federal policy,” what is the alleged wrongdoing?==
He’s making money off of a company that has a state contract.
- Arthur Andersen - Monday, Jul 9, 18 @ 3:17 pm:
word, I don’t know that I fully agree with you here. Not that I’m defending Rauner, because I’m not.
As a limited partner in a PE or VC fund, one may not have knowledge of a particular portfolio company investment until the capital is drawn and invested, to avoid any insider trading or front-running of positions and to keep privated transactions private. Rauner may not have known his money went to an entity that received a State contract until long after his capital was called. However he or his trustee learned of the conflict, his options for curing it are also limited; sell his partnership interest or disgorge all gains on the investment.
I think he owes us a public accounting of what he invested, what percentage has gone or will go to the conflicted company, realized gains/losses to date, and projected gains/losses.
- crazybleedingheart - Monday, Jul 9, 18 @ 4:11 pm:
==“Does JB really want to go down this road?,” asked one Rauner operative today. ==
Uhhh…isn’t the important point that voters definitely DO want this road explored for both candidates, not some B2B (billionaire to billionaire) agreement to keep quiet about dirty money?
- Honeybear - Monday, Jul 9, 18 @ 4:18 pm:
An easy list to check for more improprieties would be EDGE grant recipients
- Huh? - Monday, Jul 9, 18 @ 6:42 pm:
“the proceeds go the the Rauner family foundation”
If you think I am going to believe 1.4%, you have annother thing coming.
- Anon - Monday, Jul 9, 18 @ 7:14 pm:
Follow the $.
- Huh? - Monday, Jul 9, 18 @ 7:51 pm:
“the proceeds go the the Rauner family foundation”
So 1.4% gets an other tax deduction for the illicit profits he made fron the public trough.